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PFTS to become joint stock company in '08
15.04.08
Reuters
KYIV, April 14 - Ukraine's main PFTS stock market will transform itself into a joint stock company in the third quarter of this year, a spokesman said on Monday, in a move that would open the door for foreign investment or a takeover.
The PFTS, created after the fall of the Soviet Union, has been up to now a non-profit association. Its rapid growth, although from a small base, has attracted the interest of both the Warsaw stock exchange and Russia's RTS market.
The stock exchange's president, Irina Zarya, in January promised significant investment in modernising the trading system, which suffered technical glitches that month after volumes jumped during global market turbulence.
The traditionally illiquid market was one of the fastest growing in the world last year, at 135 percent, although the value of trades at $6.236 billion in 2007 is still tiny compared to Ukraine's east European neighbours.
The PFTS accounts for 94 percent of the country's formal stock exchange market.
